. This will provide insight into the idea of the optimal number of workers and the value of the marginal product of labor. If wages in the restaurant is $11.00 per hour and the price of a Hamburger is $4.40 and the production function for the workers is: Q = 5L – 0.5L2 a. How many workers should Your Restaurant employ during the lunch hour to maximize profits? 1 Point (notethe value of the marginal product of labor and the marginal revenue product are the same) We maximize profits which are total revenues less total costs:
This will provide insight into the idea of the optimal number of workers and the value of the marginal product of labor. If wages in the restaurant…
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